By the end of 2021, functional beverage sales are expected to reach nearly $49 billion on the strength of pandemic trends as reported by Packaged Facts‘ new report “Functional Beverages: Market Trends and Opportunities.”
The U.S. food and beverage industry has been impacted heavily by COVID-19. In 2020 especially, more people looked to improve their health to prevent or lessen the severity of illness. Consumers are buying more functional beverages with label claims perceived to confer functional benefits important to health or everyday life, particularly those that may provide an immunity boost.
Beverage products in the scope of the report include drinks in ready-to-drink (RTD) or ready-to-mix/brew form (e.g., beverage powders, liquid drink enhancers, dry coffee and tea). Functional benefits examined in this report include increased energy, enhanced hydration, boosts in cognitive function/brain activity, better sleep and relaxation, boosts in immunity, increased gut health, meal replacement and weight management, and sports performance improvement.
Packaged Facts projects that sales in this market will decelerate over the next five years, although the pandemic boom in 2020 and 2021 will affect the market for years to come.
In Packaged Facts’ June 2021 National Online Consumer Survey, 32% of consumers report that they purposefully seek out beverages with ingredients that are designed to or claim to improve overall health or specific body functions. These consumers are also somewhat more likely than average to express greater concerns about the pandemic and to have experienced more negative personal effects.
For more information see the Functional Beverages: Market Trends and Opportunities report page. This report analyzes current retail sales, projects future sales, and examines trends across the U.S. market for functional beverages, considering the current and longer-term impacts of the coronavirus pandemic.
Particular attention is dedicated to the market impact of e-commerce and the coronavirus pandemic.
Packaged Facts, a division of MarketResearch.com, publishes market intelligence on a wide range of consumer market topics, including consumer demographics and shopper insights, the food and beverage market, consumer financial products and services, consumer goods and retailing, and pet products and services.